Atria Investments Inc Boosts Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Atria Investments Inc lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,338 shares of the industrial products company’s stock after buying an additional 135 shares during the quarter. Atria Investments Inc’s holdings in Applied Industrial Technologies were worth $1,191,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Boston Trust Walden Corp boosted its position in Applied Industrial Technologies by 1.2% during the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after purchasing an additional 7,720 shares in the last quarter. Dundas Partners LLP purchased a new stake in Applied Industrial Technologies during the second quarter worth $46,805,000. Handelsbanken Fonder AB boosted its position in Applied Industrial Technologies by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after purchasing an additional 49,500 shares in the last quarter. Victory Capital Management Inc. boosted its position in Applied Industrial Technologies by 18.2% during the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock worth $39,659,000 after purchasing an additional 31,514 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Applied Industrial Technologies by 65.6% during the third quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company’s stock worth $32,269,000 after purchasing an additional 57,283 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Down 1.4 %

Shares of NYSE AIT opened at $266.73 on Friday. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $230.16 and its two-hundred day moving average price is $208.06. The stock has a market capitalization of $10.25 billion, a P/E ratio of 27.22, a PEG ratio of 3.73 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52-week low of $155.47 and a 52-week high of $276.97.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $2.39 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. This represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,927 shares of company stock valued at $2,439,116. 1.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Oppenheimer boosted their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday. Robert W. Baird boosted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. KeyCorp boosted their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Loop Capital boosted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.86.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.